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Chevrolet Traverse Lease Questions

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  • Thanks thebigtuna79. Ally's January base lease rate and residual value for a 24-month lease of a 2013 Chevrolet Traverse LS AWD with 12,000 miles per year are 1.0% and 69%.

    The numbers for an otherwise identical 36-month lease are 1.85% and 60%.

    General Motors is currently providing a $1,620 cash incentive on 2-year and $1,500 on 3-year leases of this truck.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hey buster6. Ally's January base lease rate and residual value for a 24-month lease of a 2013 Chevrolet Traverse LTZ or LT with 15,000 miles per year are 1.0% and 64%.

    As far as cash incentives go, General Motors is currently providing a $1,620 cash incentive on 2-year leases of this truck. In addition to that there is another $2,000 if you are currently leasing a non-General Motors vehicle.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • wvubarbuilderwvubarbuilder Posts: 2
    edited February 2013
    Options:
    2LT
    Black Granite Metallic
    Hit The Road Package
    Leather Surfaced Seating

    MSRP: 43,210

    I had a lot of incentives to apply totaling $7,671.83 broken down below:
    GM credit card earnings were topped off to $3,000 from mailer GM sent out
    Additional $1,000 promotion with the GM Card on the same mailer
    Additional $51.83 (dealer found this on the GM Card, don't know what it's from)
    CCR $1,620
    Conquest $2,000

    I have a lease on a 2010 Nissan Maxima w/ 6 payments @ $420/mo left (hence the conquest cash). My original plan was to just bite the bullet and pay the 6 months on the Maxima along with the new Traverse payment. I was shooting for $325/mo. for 2yrs, on the Traverse w/ no money out of pocket, just using the incentives. The Dealer went down to $350 but wouldn't go lower, so I decided to sleep on it.

    The Maxima needed tires and there was a disposition fee of $350 or $450 (can't remember exactly) that would be due in August along with these 6 payment's of $420/mo. So I returned to the dealer to see if we could do their number of $350/mo. for the 2yr lease, but I would give them $750 in cash if they could get me out of the Maxima. I had no math to come up with this number I just picked it. They worked on it for a while but simply said it can't be done for that amount because the buyout was too high on the Maxima at $20,500. I asked them what they could do if I gave them $1,000 and they take the Maxima. Final handshake number was my $1,000 out of pocket and a payment of $395-$400/mo. The finance guy wasn't there, so they couldn't give me the actual number until I signed, but assured me it would not go over $400.

    I got to pickup the Traverse today and the final number was $383/mo. Obviously, I was expecting $399.99, needless to say I was pleasantly surprised.

    So it cost me $1,000 out of pocket for the Traverse @ $383/mo. w/ the MSRP of $42,310 and I got out of the last 6 payments @ $420/month of a 2010 Maxima that had a buyout of $20,500, needed about $600 in tires and a disposition fee of around $400. I was satisfied with the deal considering I also live in PA where it's 9% tax when you lease a car.
  • Wow, great job. What dealership was this by the way?
    I'd be willing to drive to get a great deal from NYC

    I'm shopping for a 2013 base LS AWD and
    A few dealers are giving me the runaround. I too am coming
    Off a lease. I only have 1 payment on my 2010 VW CC which
    Is in immaculate condition. CCR is $1620 and conquest is $2000.
    I don't have a GM card so don't qualify for that.

    Did the dealer confirm the money factor and residual with you?
  • The dealer was Brown Daub Chevrolet in Nazareth, PA

    The money factor and residual that car_man listed for January on the LT is still valid at 1% and 64% respectively. I would guess the January values car_man listed for the LS in replying to your previous post should be too, but I'm just guessing.

    I am local to the dealership and they were very interested in where I lived for repeat business. That might give me a little advantage vs. what they'll do on out of state deals. I also made it known to them that I have another lease w/ Nissan that's up in 18mo.

    I'm not sure what the rules are on this forum, but I entered "car lease calculator xls" in google and used a spreadsheet that came up with the first hit to get an approximation on what the payment should be.
  • Ended up finalzing a deal with a local lease broker here in NYC. All of the local Chevy dealerships in NY/NJ were giving me the run around. Picking up the truck on 2/28 (last day of the month) to qualify for this month's deal.

    2013 LS AWD
    Sticker : $33,370
    27 month lease with 10K miles per year (22,500 miles total)

    Total due out of pocket : $639.05, which includes 1st month payment of $289.05, plus $350 which covers NY Plates/DMV and their "doc" fee.

    26 payments of $289.05. No disposition fee as the lease is thru Ally Bank.

    Residual was 69% and MF was 1% (thanks car man)

    This is the cheapest deal I could find. Im pretty happy with the payment, especially that im at $289 a month on a close to $34K truck with nothing out of pocket really.

    I did not end up trading in my VW, so I have another month that it will overlap with my new truck.

    The Honda Pilot, Highlander and CX-9 were leasing nowhere near this truck.
  • upstatebuyerupstatebuyer Posts: 7
    edited March 2013
    Hey Car_man. Looking to lease a 2013 traverse 2lt AWD with leather package, MSRP is 41265.00 including a 860.00 destination charge.

    Dealer quoted me 39,300 selling price, not sure if that was from any incentives or not. I believe there is 1000.00 + 500.00. with 0 down and I was rolling in the taxes , plates and other fees. 12k miles per year
    The dealer quoted me payments of 479.00 x 39 months with a 56% residual value (23,108)but wouldn't at that time go over the money factor. (I think they were trying to see what price per month I was thinking) but I said thanks and left.
    Based on what I am reading in these posted I believe I could get a much better deal than that.
    Wondering what your thoughts were?
    Please let me know what you think would be greatly appericated
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi upstatebuyer. You provided a ton of details in your post, good stuff. OK, you were quoted a discount of $1,965 on a truck that has a spread of around $2,139 between its full MSRP and its dealer invoice price. That's a great selling price...if the dealer is subtracting all of the available cash incentives from that.

    Specifically, right now GM is providing a $2,500 cash incentive on 36-month leases of this truck plus another $500 on top of that in certain areas. As you can see, this isn't a good deal if the dealer isn't subtracting this cash from the selling price that you mentioned.

    Ally's current base lease rate for a 39-month lease of this vehicle is 1.5%. Make sure that they use it to calculate your payment.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Awesome thanks! So they just called me back and they did offer me another 500 off. They also stated they changed the money factor down to 2.52% and a resdiual value at 58%, he now quoted me at 433 a month for 39months, math still doesn't work out. Do you know what the actual residual is for a 39 month? Also I am coming off a Toyota lease right now would I qualify for that 2k conquest offer I see on the Internet? Thanks again
  • upstatebuyerupstatebuyer Posts: 7
    edited March 2013
    So after further negotiation here's where we stand
    So options power sunroof, heated leather.
    Comes out to MSRP of 42555.00. Selling price down to 40200.00
    I am rolling everything into the lease total price is 41292.00
    They are giving me 5000.00 total rebates (2k in conquest lease, 1500 in cash, 500 in IVC coupons and another 500 if I buy before the 3/14, 500.00 in holdback split)
    Net cap cost: 37916.90
    Ally finance at 1.5 money factor with 56% residual)(23830.80) 12k mileage
    also paying first month so I would owe 38 months
    400.31 per month for 38 months. (they quoted me at 399.99 a month though)

    ***they quoted me 439.00 on a LTZ same deal MSRP at 46105.00(selling price at 43407.21)***

    Let me know what everyone thinks. I think based on my homework both are a good deal. I think I will go 2LT in case I buy at the end of lease, not looking forward to buying 20" tires)
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome upstatebuyer. The residual value for a 39-month lease of this truck with 15,000 miles per year is 54% through Ally.

    Since you are coming out of a Toyota lease, yes you should be eligible for the $2,000 cash incentive for conquest customers that you've seen mentioned.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • schwaloschwalo Posts: 4
    Hi.. I hope you can help me.. MSRP is 41,000 selling price is $34,500 and was quoted $489/mo for 36 mos lease, 15K miles, 0 down with taxes rolled in. I live in IL

    Is this a good monthly price or should I look for lower?

    Thank you in advance.
  • What's the money factor on this seems high, my msrp was 42255, got down to 389 a month no money down and taxes rolled in. Your residual should be at or higher than 56 and 1.5 was the money factor through ally bank. What other info do u have?
  • schwaloschwalo Posts: 4
    40965 msrp

    39000 sale price

    2743 tax

    - 4500 rebate

    54% residual

    39 months

    Ally apr 2.5

    Payment is 459 x39 months

    Thoughts?
  • Ally bank for 39 month lease also has 1.5 money factor along with a residual of 56. Download the lease app called lease calculate, very accurate. I think you might be able to work on the price before rebates just make sure it's close to invoice. Let me know how it goes
  • Here's the latest…I ended up putting a down payment down for the same car a two dealerships. I got the lowest price at one and negotiated at the other. I told them I'm buying car the next day who ever had the best price. Final deal was 369 a month, 39 months @ 1.5, 56 redsidual, I got nothing for my Toyota old lease. Not sure of the final price of the 2 lt yet. The msrp was 42255, 2lt with leather package and moon roof package. Plus I negotiated every other oil change free. Going to pick on 3/13. Final advise negotiate everything individually. Keep in mind the residual is set by the bank, but there is so many money factor rates that change the residual. Also put dealerships at war with each other and don't let them know it, just say thanks and walk out. I feel really good about this deal, I started this out couple weeks ago at 489, these guys have a lot of room to move. Good luck!!!
  • jen727bfjen727bf Posts: 12
    what was the purchase price and incentives they finally gave you for the $369/month deal? Did you already purchase?
  • Ended up at 36,740. That's total amount including NY taxes and all fees rolled in. My payments are 369.00 a month no money down for 39 months. So far I really like the car
  • Hi Car Man,

    Hoping you can help me with the April residual and money factor for a 24 and 36 month lease on this vehicle? Also, what incentives GM is currently offering.

    Thanks in advance!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    edited April 2013
    Wow another really cool name :). Hey carfanman2. Ally's April base lease rate and residual value for a 24-month lease of a 2013 Chevrolet Traverse 2LT AWD with 15,000 miles per year are 1.0% and 64%.

    The numbers for an otherwise identical 36-month lease are 1.5% and 56%.

    General Motors is currently providing a $1,500 cash incentive on 2-year and $2,000 on 3-year leases of this car through Ally.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • mcbais2mcbais2 Posts: 1
    Hi. I'm considering leasing a Traverse 1LT AWD w/ All Star package and 15,000 miles. Do you have the May numbers? Thank you.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here is the information that you're looking for, mcbais2. Ally's May base lease rate and residual value or a 36-month lease of a 2013 Chevrolet Traverse 1LT AWD with 15,000 miles per year are 1.5% and 56%.

    General Motors is providing a $2,000 cash incentive on 36-month leases of this truck.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • jaxartjaxart Posts: 1
    Does anyone have numbers for a May lease for 2013 Traverse LTZ FWD - 15k per year 36mth lease?

    Thanks
  • tankbuddytankbuddy Posts: 2
    how many miles per year lease did you get?
  • tankbuddytankbuddy Posts: 2
    it lists for 43,380, does anyone know how low a price I may expect to pay for this in Indiana.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I do. Ally's May base lease rate and residual value for a 36-month lease of a 2013 Chevrolet Traverse LTZ FWD with 15,000 miles per year are 1.5% and 56%.

    General Motors is providing a $2,000 cash incentive on 36-month leases of this truck this month.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Would love to hear your feedback in regard to a lease my wife picked up yesterday. I feel we could have done better but she's not the type to extend the process more than a day and get a better deal. All fees rolled into lease.

    MSRP $35,965

    Sales Price $34,400

    39 month Lease 1.5% Lease Rate, residual 54%. 15,000 miles/year

    Trade in $15,000, payoff amount $14,623.53, net trade allowance $876.47.

    Breakdown from Ally.

    Itemization of Gross Cap Cost

    Agreed upon Value of the Vehicle $34,400.00
    Ally Admin Fee $595.00
    License/registration/title fees $103.45
    Sales Tax $1,007.40
    Cap Reduction Tax $278.44
    Document Fee $250.00
    Total Gross Cap Cost $36,634.29

    Itemized Cap Cost Reduction
    Trade in Allowance $876.47
    Lease Cash $2,000 .00
    GM Card $1,500.00
    First Month Payment -$398.73
    Total Cap Cost Reduction $3,977.74

    Adjusted Cap Cost $32,656.55

    Residual Value $19,421.10

    Depreciation Amount $13,235.45

    Rent Charge $2,315.02

    Total of Base Scheduled Payments $15,550.47

    # of Payments 39

    Total Scheduled Payment $398.73

    Purchase Option at End of Lease Term $19,421.10

    In the end $398.73 for 39 months, 15,000 miles/year.
  • I'm expecting a lease payment for a 2013 Chevy Traverse, AWD LT1, with quad seating [no other options] to be around 380 dollars. I factored a MSRP of 37,000; final sale price of 33,400, down payment f 500, sales tax 6%, 1.5 bank rate, and 58% residual value.

    I'd be happy with a payment under 395, based on some of the posts on this forum. During my first day of negotiations, 8 dealers told me I was being unreasonable to expect this vehicle for under 400 dollars.

    Should I expect dealers to reconsider over the next few days, or am I really miscalculating here?
  • chris0076chris0076 Posts: 11
    My Traverse lease will soon be up.

    Should I take car to different dealerships to see who will give me the best appraisal price.

    I want of course the most equity I can from the car.
  • What makes you think you have equity in the car?
    Even if you somehow did, I don't think they have to give
    You anything. It's even in the contract. Unless
    You plan on buying/leasing a new chevy, they'll somehow
    Consider but highly doubtful.

    Throw the keys at them and walk away. It's their problem.
    That's why you leased in the first place.
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